This is my first post for the US News Smarter Investor Blog, the article was subsequently picked up by Yahoo Finance.
Participating in your company’s retirement savings plan is a great first step, but that alone won’t guarantee a comfortable retirement. When thinking about your financial goals and retirement savings, keep these 401(k) considerations in mind:
A 401(k) plan alone is not sufficient. Your goal should be to contribute the maximum annual limit: $16,500 for people under 50 years of age and $22,000 for investors 50 and older. Contributing at that level isn’t realistic for everyone, but some contribution is better than nothing. Start contributing as much as you can afford and make it a goal to increase that amount annually. Some plans allow you to implement an automatic increase each year in the percentage of pay you contribute. Take advantage of this or consider increasing your contribution by the amount of any pay raise you receive.
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Congrats-What a great event. And good advice in a clear format. I liked the point about not treating retirement account as a "savings" account, very true. btw, linked to you in a guest post over at happy simple living dot com last friday!
Thanks for the comment Barbara and for the link. I really appreciate your comments and support.
Hi,
I am a member of some financial communities. I came across your website wohlnerfinancial.blogspot.com and found it very informative and helpful. I would like to send you an article as a guest post (relevant to your site).
It will be my pleasure if I can contribute some quality content. Please kindly let me know how and where should I send you the article.
Waiting for your quick response.
Thanks and regards,
Nancy Smith.
nancysmith008(at)gmail(dot)com